The Armistice was agreed at 5 a.m. on 11 November, to come into effect at 11 a.m. Paris time, for which reason the occasion is sometimes referred to as "the eleventh (hour) of the eleventh (day) of the eleventh (month)". It was the result of a hurried and desperate process.

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There was no question of negotiation. The Germans were able to correct a few impossible demands (for example, the decommissioning of more submarines than their fleet possessed), and registered their formal protest at the harshness of Allied terms. But they were in no position to refuse to sign.

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The news was quickly given to the armies during the morning of 11 November, but even after hearing that the armistice was due to start at 11:00 a.m., intense warfare continued right until the last minute. Many artillery units continued to fire on German targets to avoid having to haul away their spare ammunition.

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The exuberance with which people greeted the armistice quickly succumbed to feelings of exhaustion, relief, sorrow, and a sense of absurdity.

Rome burns while we watch the ceiling.

Aim for the sky and you'll reach the ceiling. Aim for the ceiling and you'll stay on the floor. - Bill Shankly

Disclosure: Nearly my entire nest egg continues to sit in long-term TIPS and I-Bonds. I intend to hold all until maturity.

2 comments:

Mr Slippery
said...

"It is becoming harder and harder to make money off of money."

You're not doing it right. You don't try find great investments and buy and hold. You program your algo to saturate the NYSE with orders that expire nanoseconds after they are sent to prevent other orders from being executed while you trade on inside info or just released news.

It's like running your own local quake server against players on the Internet. The lag freezes them in place while you drop a rocket in a their lap!

Fair and free markets like these are the best. Thanks, SEC (wink).http://www.nanex.net/Research/DirectFeedDelays/NewFlashCrash_DirectFeedDelays.html

Disclaimer

I am not a financial advisor. I am not offering investment advice. Although I have attempted to provide accurate information, that's all it is, an attempt. Please do not trust the opinions, numbers, and/or charts of a random anonymous blogger on the Internet. Make your own opinions. Make your own charts. Do your own due diligence. Thank you.